E-cigarette Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, UK, France, Germany - Size and Forecast 2023-2027

Published: Oct 2023

Pages: 165

SKU: IRTNTR40561

Snapshot

E-cigarette Market Forecast 2023-2027:

The E-cigarette Market size is estimated to grow by USD 21.42 billion at a CAGR of 13.37% between 2022 and 2027.

This market trends and analysis report extensively covers market segmentation by distribution channel (offline and online), product (modular e-cigarette, next-generation products, rechargeable e-cigarette, and disposable e-cigarette), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Our market growth analysis report examines historic data from 2017 to 2021, besides analyzing the current market scenario.

The safety of e-cigarettes compared with other tobacco products is a key factor driving the market growth. Smoking tobacco globally causes over six million deaths annually, including 600,000 passive smokers. Health issues such as respiratory diseases, cancer, and heart conditions result from tobacco use. UK experts recommend e-cigarettes as a safer alternative to mitigate smoking-related effects. Over the past decade, efforts have been made to reduce nicotine content in tobacco products due to its addictive nature. E-cigarettes produce a flavored aerosol delivering nicotine to the lungs without toxic chemicals, making them perceived as a less harmful option. Health experts advise smokers to switch to e-cigarettes, contributing to the growth of the market.

Market: Overview

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Key Trend and Challenge

Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.

Key Trends

A key factor shaping the market growth is the increasing number of E-Cigarette and Vape product launches. Successful product launches are essential for any market as they support the growth of the market as well as the product lines of the market players. Additionally, it increases the market share of the players and provides them with a competitive advantage. For example, in August 2021, RELX Technology promoted the release of its next-generation premium e-cigarette in the United Arab Emirates and Kuwait.

Similarly, in May 2022, the partnership between prominent market players Innokin Technology and Aquios Labs led to the launch of a revolutionary Lota water-based vaporizer. Therefore, such product launches by several market players are positively impacting the electronic cigarette market growth. Hence, it is expected to drive market growth and trends during the forecast period.

Significant Challenge

Stringent regulations on the sales, advertising, and marketing of e-cigarettes are one of the key challenges hindering the e-cigarette market growth. There are strict regulatory frameworks enforced by legal institutions regarding the sales, advertising, and marketing of e-cigarettes which can negatively impact the electronic cigarette market. For instance, in August 2018, the Ministry of Health and Family Welfare in India announced an advisory to all the state governments to ban the sale of Electronic Nicotine Delivery Systems (ENDS), such as e-cigarettes, HNB tobacco products, vapes, e-nicotine flavored electronic hookah, and other tobacco-based products.

As a result, there was an increase in bans on the sales of e-cigarettes across several states and Union Territories such as Punjab, Maharashtra, Karnataka, Kerala, Bihar, Uttar Pradesh, Jammu and Kashmir, Himachal Pradesh, Tamil Nadu, Puducherry, and Jharkhand. Therefore, these stringent regulations can significantly impact the profit margin of market players. Hence, such factors are expected to hinder market growth during the forecast period.

Market Segmentation by Product

The wide penetration of the modular e-cigarettes segment across several markets will increase market growth. This segment offers an improved vaping experience as they have many options for customization. Also, there is an increasing preference for this segment among consumers as it enables controlling the amount of vapor, variable voltage, battery strength, and e-liquid juice. The main factor which is significantly fuelling the growth of this segment is its cost-effectiveness. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.

The increasing preference for next-generation product segments among consumers will increase market growth. There is a growing preference for the heat-not-burn devices category of next-generation products among consumers. The main feature of this product is that it heats tobacco rather than burns it, generating an aerosol that is inhaled by users. There is a growing popularity for next-generation products among health officials, policymakers, and the tobacco industry as it is considered as a harm reduction tool for current smokers. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.

Market Segmentation by Distribution Channel

The offline segment is estimated to witness significant growth during the forecast period. One of the main segments which is significantly contributing to the growth of the market is the offline segment as it offers consumers various physical locations to purchase these products. One of the prominent offline distribution channels is the specialty vape shops which offer e-cigarettes and vaping products

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The offline segment was valued at USD 13.47 billion in 2017. The specialty retail stores have dedicated sections for each type of product such as e-cigarettes, e-liquids, accessories, and other vaping-related products. Additionally, these retail stores offer a unique and immersive shopping experience, enabling customers to explore various flavors, device types, and vaping equipment. Some of the major offline distribution channels which are significantly contributing to the growth of the e-cigarette market are hypermarkets and supermarkets, namely Walmart, Tesco, Carrefour, Kroger, Lidl, Coles, Woolworths, and Auchan. Hence, the increasing number of retail stores is expected to fuel the growth of this segment which, in turn, will drive the market growth during the forecast period.

The growing number of e-commerce platforms are fuelling the online segment which in turn will increase the market growth. Factors such as expansive product options, online payments, and doorstep delivery and convenience are significantly fuelling the growth of this segment. Juul Labs, Vaporesso, and Eleaf are some of the prominent market players which are offering e-cigarettes through online retail platforms and have dedicated online vaper shops to cater to consumers globally. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.

Key Regions for the Market

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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main factors that significantly contributed to the growth of the market in North America is the e increasing use of e-cigarettes among consumers. The main revenue generator of the market in North America is the US, with young people being the primary consumer segment. The Centers for Disease Control and Prevention (CDC) estimated that 2.06 million American middle and high school students, including 2.8% of middle school students and 11.3% of high school students, smoked e-cigarettes over the course of 30 days in 2021. Market players in the US are offering a wide variety of flavors of e-cigarettes with new flavors being launched frequently. Also, the increasing perception that vaping and e-cigarettes have a fashionable appeal. This is fuelling market growth in the region during the forecast period.

Key Market Companies Overview

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Key Offering - Altria Group Inc: The company offers E-cigarettes through its subsidiary called Green Smoke Inc.
Key Offering - British American Tobacco Plc: The company offers handheld, battery-powered E-cigarettes that heat a liquid, also called an E-liquid to produce an inhalable aerosol, commonly known as vapor.
Key Offering - ePuffer Ltd: The company offers E-cigarettes such as the SNAPS E-cigs series and disposable eco-friendly E-cigarettes.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Customer Landscape

The market growth and forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Customer Landscape

Market Dynamics

The e-cigarette market has witnessed a surge in popularity, especially among young adults and adolescents seeking alternatives to traditional tobacco-based cigarettes. The appeal lies in zero smoke, no pollution, and the potential for reduced health-related problems. E-cigarettes provide the advantage of smoking in public areas, contributing to their widespread adoption. Despite concerns about nicotine dependence and poor online age verification, rechargeable and disposable electronic cigarettes offer cost-effective solutions.

With a vast array of flavors like menthol, mint, chocolate, cola, bubble gum, and fruits, e-cigarettes cater to diverse preferences. This market's global presence includes local and international players, offering a variety of vaping devices and nicotine-free e-liquids, making them fashionable and affordable alternatives to regular cigarettes, such as the iconic Marlboro Reds pack in the United States.

Segment Overview

The market analysis and report covers market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.

Distribution Channel Outlook (USD Billion, 2017 - 2027)
- Offline
- Online
Product Outlook (USD Billion, 2017 - 2027)
- Modular E-cigarette
- Next-generation products
- Rechargeable E-cigarette
- Disposable E-cigarette
Geography Outlook (USD Billion, 2017 - 2027)
- North America
  - The U.S.
  - Canada
- Europe
  - U.K.
  - Germany
  - France
  - Rest of Europe
- APAC
  - China
  - India
- South America
  - Chile
  - Argentina
  - Brazil
- Middle East & Africa
  - Saudi Arabia
  - South Africa
  - Rest of the Middle East & Africa

Market Scope
Report Coverage	Details
Page number	165
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 13.37%
Market growth 2023-2027	USD 21.42 billion
Market structure	USD Fragmented
YoY growth 2022-2023(%)	12.76
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 37%
Key countries	US, China, UK, France, and Germany
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Altria Group Inc., British American Tobacco Plc, ePuffer Ltd., GD SIGELEI Electronic Tech Co. Ltd., Geekvape, ICCPP, Imperial Brands Plc, Innokin Technology Ltd., ITC Ltd., Japan Tobacco Inc., JUUL Labs Inc., JWEI Group, OXVA, PhixVapor, Shenzhen IVPS Technology Co. Ltd., Shenzhen KangerTech Technology Co. Ltd., Shenzhen UWELL Technology Co. Ltd., Shenzhen Runfree Technology Co. Ltd., White Cloud Electronic Cigarettes, and SMOORE International Holdings Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the market between 2023 and 2027
Precise estimation of the market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
A thorough analysis of the market’s competitive landscape and detailed information about companies
Comprehensive analysis of factors that will challenge the growth of market companies

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global E-cigarette market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on global e-cigarette market 2017 - 2021 ($ billion)

4.2 Distribution channel Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ billion)

4.3 Product Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

6.1 Market segments
- Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)

6.2 Comparison by Distribution Channel
- Exhibit 32: Chart on Comparison by Distribution Channel
- Exhibit 33: Data Table on Comparison by Distribution Channel

6.3 Offline - Market size and forecast 2022-2027
- Exhibit 34: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
- Exhibit 35: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
- Exhibit 36: Chart on Offline - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Offline - Year-over-year growth 2022-2027 (%)

6.4 Online - Market size and forecast 2022-2027
- Exhibit 38: Chart on Online - Market size and forecast 2022-2027 ($ billion)
- Exhibit 39: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
- Exhibit 40: Chart on Online - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Online - Year-over-year growth 2022-2027 (%)

6.5 Market opportunity by Distribution Channel
- Exhibit 42: Market opportunity by Distribution Channel ($ billion)
- Exhibit 43: Data Table on Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Product

7.1 Market segments
- Exhibit 44: Chart on Product - Market share 2022-2027 (%)
- Exhibit 45: Data Table on Product - Market share 2022-2027 (%)

7.2 Comparison by Product
- Exhibit 46: Chart on Comparison by Product
- Exhibit 47: Data Table on Comparison by Product

7.3 Modular E-cigarette - Market size and forecast 2022-2027
- Exhibit 48: Chart on Modular E-cigarette - Market size and forecast 2022-2027 ($ billion)
- Exhibit 49: Data Table on Modular E-cigarette - Market size and forecast 2022-2027 ($ billion)
- Exhibit 50: Chart on Modular E-cigarette - Year-over-year growth 2022-2027 (%)
- Exhibit 51: Data Table on Modular E-cigarette - Year-over-year growth 2022-2027 (%)

7.4 Next-generation products - Market size and forecast 2022-2027
- Exhibit 52: Chart on Next-generation products - Market size and forecast 2022-2027 ($ billion)
- Exhibit 53: Data Table on Next-generation products - Market size and forecast 2022-2027 ($ billion)
- Exhibit 54: Chart on Next-generation products - Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on Next-generation products - Year-over-year growth 2022-2027 (%)

7.5 Rechargeable E-cigarette - Market size and forecast 2022-2027
- Exhibit 56: Chart on Rechargeable E-cigarette - Market size and forecast 2022-2027 ($ billion)
- Exhibit 57: Data Table on Rechargeable E-cigarette - Market size and forecast 2022-2027 ($ billion)
- Exhibit 58: Chart on Rechargeable E-cigarette - Year-over-year growth 2022-2027 (%)
- Exhibit 59: Data Table on Rechargeable E-cigarette - Year-over-year growth 2022-2027 (%)

7.6 Disposable E-cigarette - Market size and forecast 2022-2027
- Exhibit 60: Chart on Disposable E-cigarette - Market size and forecast 2022-2027 ($ billion)
- Exhibit 61: Data Table on Disposable E-cigarette - Market size and forecast 2022-2027 ($ billion)
- Exhibit 62: Chart on Disposable E-cigarette - Year-over-year growth 2022-2027 (%)
- Exhibit 63: Data Table on Disposable E-cigarette - Year-over-year growth 2022-2027 (%)

7.7 Market opportunity by Product
- Exhibit 64: Market opportunity by Product ($ billion)
- Exhibit 65: Data Table on Market opportunity by Product ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
- Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Exhibit 67: Chart on Market share by geography 2022-2027 (%)
- Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison
- Exhibit 69: Chart on Geographic comparison
- Exhibit 70: Data Table on Geographic comparison

9.3 North America - Market size and forecast 2022-2027
- Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)

9.4 Europe - Market size and forecast 2022-2027
- Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)

9.5 APAC - Market size and forecast 2022-2027
- Exhibit 79: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
- Exhibit 80: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
- Exhibit 81: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on APAC - Year-over-year growth 2022-2027 (%)

9.6 South America - Market size and forecast 2022-2027
- Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

9.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
- Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
- Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

9.8 US - Market size and forecast 2022-2027
- Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)

9.9 UK - Market size and forecast 2022-2027
- Exhibit 95: Chart on UK - Market size and forecast 2022-2027 ($ billion)
- Exhibit 96: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
- Exhibit 97: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on UK - Year-over-year growth 2022-2027 (%)

9.10 France - Market size and forecast 2022-2027
- Exhibit 99: Chart on France - Market size and forecast 2022-2027 ($ billion)
- Exhibit 100: Data Table on France - Market size and forecast 2022-2027 ($ billion)
- Exhibit 101: Chart on France - Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on France - Year-over-year growth 2022-2027 (%)

9.11 Germany - Market size and forecast 2022-2027
- Exhibit 103: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 104: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 105: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 106: Data Table on Germany - Year-over-year growth 2022-2027 (%)

9.12 China - Market size and forecast 2022-2027
- Exhibit 107: Chart on China - Market size and forecast 2022-2027 ($ billion)
- Exhibit 108: Data Table on China - Market size and forecast 2022-2027 ($ billion)
- Exhibit 109: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 110: Data Table on China - Year-over-year growth 2022-2027 (%)

9.13 Market opportunity by geography
- Exhibit 111: Market opportunity by geography ($ billion)
- Exhibit 112: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges
- Exhibit 113: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape
- Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption
- Exhibit 115: Overview on factors of disruption

11.4 Industry risks
- Exhibit 116: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
- Exhibit 117: Vendors covered

12.2 Market positioning of vendors
- Exhibit 118: Matrix on vendor position and classification

12.3 Altria Group Inc.
- Exhibit 119: Altria Group Inc. - Overview
- Exhibit 120: Altria Group Inc. - Business segments
- Exhibit 121: Altria Group Inc. - Key offerings
- Exhibit 122: Altria Group Inc. - Segment focus

12.4 British American Tobacco Plc
- Exhibit 123: British American Tobacco Plc - Overview
- Exhibit 124: British American Tobacco Plc - Business segments
- Exhibit 125: British American Tobacco Plc - Key news
- Exhibit 126: British American Tobacco Plc - Key offerings
- Exhibit 127: British American Tobacco Plc - Segment focus

12.5 ePuffer Ltd.
- Exhibit 128: ePuffer Ltd. - Overview
- Exhibit 129: ePuffer Ltd. - Product / Service
- Exhibit 130: ePuffer Ltd. - Key offerings

12.6 Imperial Brands Plc
- Exhibit 131: Imperial Brands Plc - Overview
- Exhibit 132: Imperial Brands Plc - Business segments
- Exhibit 133: Imperial Brands Plc - Key news
- Exhibit 134: Imperial Brands Plc - Key offerings
- Exhibit 135: Imperial Brands Plc - Segment focus

12.7 Innokin Technology Ltd.
- Exhibit 136: Innokin Technology Ltd. - Overview
- Exhibit 137: Innokin Technology Ltd. - Product / Service
- Exhibit 138: Innokin Technology Ltd. - Key offerings

12.8 ITC Ltd.
- Exhibit 139: ITC Ltd. - Overview
- Exhibit 140: ITC Ltd. - Business segments
- Exhibit 141: ITC Ltd. - Key offerings
- Exhibit 142: ITC Ltd. - Segment focus

12.9 Japan Tobacco Inc.
- Exhibit 143: Japan Tobacco Inc. - Overview
- Exhibit 144: Japan Tobacco Inc. - Business segments
- Exhibit 145: Japan Tobacco Inc. - Key news
- Exhibit 146: Japan Tobacco Inc. - Key offerings
- Exhibit 147: Japan Tobacco Inc. - Segment focus

12.10 JUUL Labs Inc.
- Exhibit 148: JUUL Labs Inc. - Overview
- Exhibit 149: JUUL Labs Inc. - Product / Service
- Exhibit 150: JUUL Labs Inc. - Key offerings

12.11 OXVA
- Exhibit 151: OXVA - Overview
- Exhibit 152: OXVA - Product / Service
- Exhibit 153: OXVA - Key offerings

12.12 PhixVapor
- Exhibit 154: PhixVapor - Overview
- Exhibit 155: PhixVapor - Product / Service
- Exhibit 156: PhixVapor - Key offerings

12.13 Shenzhen IVPS Technology Co. Ltd.
- Exhibit 157: Shenzhen IVPS Technology Co. Ltd. - Overview
- Exhibit 158: Shenzhen IVPS Technology Co. Ltd. - Product / Service
- Exhibit 159: Shenzhen IVPS Technology Co. Ltd. - Key offerings

12.14 Shenzhen KangerTech Technology Co. Ltd.
- Exhibit 160: Shenzhen KangerTech Technology Co. Ltd. - Overview
- Exhibit 161: Shenzhen KangerTech Technology Co. Ltd. - Product / Service
- Exhibit 162: Shenzhen KangerTech Technology Co. Ltd. - Key offerings

12.15 Shenzhen Runfree Technology Co. Ltd.
- Exhibit 163: Shenzhen Runfree Technology Co. Ltd. - Overview
- Exhibit 164: Shenzhen Runfree Technology Co. Ltd. - Product / Service
- Exhibit 165: Shenzhen Runfree Technology Co. Ltd. - Key offerings

12.16 Shenzhen UWELL Technology Co. Ltd.
- Exhibit 166: Shenzhen UWELL Technology Co. Ltd. - Overview
- Exhibit 167: Shenzhen UWELL Technology Co. Ltd. - Product / Service
- Exhibit 168: Shenzhen UWELL Technology Co. Ltd. - Key offerings

12.17 SMOORE International Holdings Ltd.
- Exhibit 169: SMOORE International Holdings Ltd. - Overview
- Exhibit 170: SMOORE International Holdings Ltd. - Product / Service
- Exhibit 171: SMOORE International Holdings Ltd. - Key offerings

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist
- Exhibit 172: Inclusions checklist
- Exhibit 173: Exclusions checklist

13.3 Currency conversion rates for US$
- Exhibit 174: Currency conversion rates for US$

13.4 Research methodology
- Exhibit 175: Research methodology
- Exhibit 176: Validation techniques employed for market sizing
- Exhibit 177: Information sources

13.5 List of abbreviations
- Exhibit 178: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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